According to Zacks, “Octel Corp. is a major manufacturer and distributor of fuel additives and other specialty chemicals. Their products are sold globally, primarily to oil refineries. Principal product lines are lead alkyl antiknock compound, other petroleum additives and performance chemicals. “
IOSP has been the topic of several other research reports. Monness Crespi & Hardt raised shares of Innospec from a neutral rating to a buy rating and set a $60.00 target price on the stock in a report on Thursday, August 4th. CJS Securities upgraded shares of Innospec from a market perform rating to an outperform rating and set a $63.00 price target on the stock in a research report on Friday, August 5th.
Shares of Innospec (NASDAQ:IOSP) traded up 0.05% during trading on Wednesday, hitting $60.93. 19,190 shares of the stock traded hands. Innospec has a 1-year low of $41.61 and a 1-year high of $61.39. The company has a market cap of $1.46 billion, a PE ratio of 12.98 and a beta of 1.49. The company has a 50 day moving average of $59.40 and a 200-day moving average of $51.21.
Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 2nd. The company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Innospec had a net margin of 12.22% and a return on equity of 17.55%. The business had revenue of $228 million for the quarter, compared to analyst estimates of $230.30 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Innospec will post $3.66 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of Innospec by 2.1% in the second quarter. BlackRock Fund Advisors now owns 1,507,093 shares of the company’s stock valued at $69,311,000 after buying an additional 30,661 shares during the period. Dimensional Fund Advisors LP increased its position in Innospec by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,286,671 shares of the company’s stock worth $59,173,000 after buying an additional 48,524 shares during the last quarter. Champlain Investment Partners LLC increased its position in Innospec by 2.6% in the first quarter. Champlain Investment Partners LLC now owns 861,245 shares of the company’s stock worth $37,344,000 after buying an additional 22,035 shares during the last quarter. American Century Companies Inc. increased its position in Innospec by 7.6% in the second quarter. American Century Companies Inc. now owns 471,189 shares of the company’s stock worth $21,670,000 after buying an additional 33,153 shares during the last quarter. Finally, James Investment Research Inc. increased its position in Innospec by 9.6% in the second quarter. James Investment Research Inc. now owns 454,639 shares of the company’s stock worth $20,909,000 after buying an additional 39,930 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.
Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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